🌴 Hertz Goin’ Sell Off Planny Electric Rides Afta Tesla’s Price Cuts Leave ‘Em Lolo 🌴

⬇️ Pidgin | ⬇️ ⬇️ English

Ho, check dis out eh! Da kine rental car company, Hertz, stay in one jam. Dey gotta sell off like 20,000 of their electric cars, all ’cause these buggahs wen lose value fasta den one speeding bullet. 🚗💨 It’s kinda heavy fo’ Hertz, who been tryna ditch da gas guzzlers for da kine zero-emission vehicles. 🌱

Now, these electric cars, they no only wen drop in value, but also, they more likely fo’ get in bang-ups. Hertz stay saying fixing ’em is no cheap, bruddah. Da company now gotta plan fo’ buy more gas cars fo’ take place of da 20,000 electric ones dey selling. ⛽️🔧

Stephen Scherr, da big boss of Hertz, he stay kinda pointing fingers at Tesla for making things lolo. Tesla, run by Elon Musk, wen slash their prices last year by about 30 percent. Dass why the value of the used ones wen go down, ’cause why you pay more for old if can get new for cheap, yeah? 🤷‍♂️🚘

So, wat happened? Hertz had fo’ write down the value of their electric cars big time, and dat wen hurt their pockets. Da way these rental guys figure, they estimate how much their cars going be worth when they sell ’em off. If da value drops more than they thought, then their profit goes kapakahi.

Scherr also mention that Tesla no like give ’em good kine discounts for parts, not like da odda car manufacturers. He say, “Tesla is new to da game,” like they still learning how fo’ deal with rental car companies.

No word from Tesla, though. They stay quiet like da mongoose in da cane field. 🐍

Now, check dis: back in 2021, Hertz wen make big noise saying they going buy 100,000 Teslas fo’ make their fleet more electric. But no had deadline for buy ’em, and they only wen grab small kine from dat amount. Hertz also get electric cars from odda brands like Kia, General Motors, Volkswagen, and Polestar.

One kine theory why these electric cars at Hertz wen get more accidents? Scherr say maybe ’cause da people renting ’em no too familiar with da tech. Electric cars, they zip fast and heavy, not like da regular gas ones. 🏎️💨 And turns out, da demand for these electric rides neva been as high as Hertz wen hope for.

Dis decision by Hertz, it’s kinda like one boost for da guys who been critical about electric vehicles, like da kine former President Donald J. Trump. They say electric cars been all talk, no action. But Jeremy Robb, from Cox Automotive, he says hold up, wait a minute. He say electric vehicle sales in da US wen reach nearly 1.2 million last year, and wen go up 40 percent in da last quarter of 2023 compared to 2022. So, get market for these electric cars, but maybe just not da way Hertz wen expect. 🔌📈

Still yet, Hertz no throwing in da towel on electrifying their fleet or buying more Teslas. Scherr say da market still gotta grow. He say, “Tesla is among da best-selling cars in America, but it’s not yet da best rental car.” He figgah those two things, selling and renting, no really meet up as fast as everybody, including Hertz, wen think. But, he believe, eventually, they going.

So, there you have ’em, gang. Da electric vehicle world stay in one interesting place, wit all kine ups and downs. Hertz wen learn da hard way, but still get chance for things to change. We goin’ see how da story unfolds. Stay tuned! 🌴🚦🔋

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NOW IN ENGLISH

🌴 Hertz to Downsize Electric Fleet After Tesla’s Price Slash Hits Hard 🌴

Hey everyone, listen up! The car rental giant, Hertz, is in a bit of a pickle. They’re planning to offload about 20,000 electric cars from their fleet because these vehicles have depreciated faster than a race car on the track. 🚗💨 It’s a significant setback for Hertz, who’s been keen on replacing gas guzzlers with eco-friendly, emission-free vehicles. 🌱

Turns out, these electric vehicles didn’t just lose their value; they were also more prone to accidents. And Hertz says fixing them is no small change. The company now aims to bring in more gasoline vehicles to replace the 20,000 electric ones they’re selling. ⛽️🔧

Stephen Scherr, the CEO of Hertz, seems to be pointing fingers at Tesla for the dilemma. Tesla, led by Elon Musk, cut their prices last year by around 30%, causing the used car values to plummet. Why pay more for older models when new ones are available for less, right? 🤷‍♂️🚘

This led to Hertz having to write down the value of its electric cars significantly, impacting their profits. Rental companies like Hertz usually calculate the future resale value of their cars, and this unexpected depreciation hit them hard.

Scherr also mentioned that Tesla was less cooperative than other carmakers in offering volume discounts for replacement parts. “Tesla is new to the game,” he suggested, indicating the electric car company’s relative inexperience in dealing with rental car companies.

Tesla, on their part, hasn’t responded to the situation. 🐍

Remember in 2021, when Hertz announced it would buy 100,000 Teslas as part of its plan to electrify its fleet? Well, there was no strict deadline for this purchase, and so far, they’ve only bought a fraction of that number. Hertz also offers electric vehicles from other manufacturers like Kia, General Motors, Volkswagen, and Polestar.

One reason for the higher accident rate of Hertz’s electric vehicles, according to Scherr, might be that renters are not accustomed to the technology. Electric cars accelerate faster and are heavier than traditional gasoline vehicles. 🏎️💨 Plus, the demand for these electric cars was lower than Hertz had anticipated.

This move by Hertz seems to support the arguments of electric vehicle skeptics, like former President Donald J. Trump, who believe that electric cars have been overhyped. But Jeremy Robb from Cox Automotive points out that electric vehicle sales in the US reached nearly 1.2 million last year, with a 40% increase in the last quarter of 2023 compared to 2022. There’s clearly a market for these electric vehicles, just perhaps not in the rental sector. 🔌📈

However, Hertz isn’t giving up on electrifying its fleet or on Tesla. Scherr believes the market still needs to mature. “Tesla is among the best

-selling cars in America, but it’s not yet the best rental car,” he noted. The alignment between sales and rental suitability hasn’t happened as quickly as many, including Hertz, had hoped. But, he’s optimistic that it will eventually happen.

So, there you have it, folks. The world of electric vehicles is going through some interesting times, with various challenges and developments. Hertz’s experience has been a tough lesson, but it also highlights the evolving landscape of electric vehicle use and market dynamics. Let’s watch how this story unfolds. Stay tuned! 🌴🚦🔋